Shanghai: China Communications Construction Company (CCCC), China’s largest port construction company and dredging company, has announced that it plans to integrate its dredging assets to establish a new company CCCC Dredging Company.
CCCC will invest RMB100m ($16.12m) to set up the new company, which will later acquire full equity in CCCC Tianjin Dredging Company, CCCC Shanghai Dredging Company, and CCCC Guangzhou Dredging Company through the issuing of new shares.
CCCC will start to promote the listing of CCCC Dredging Co after all these transactions are completed.
CCCC currently runs China’s largest dredging vessel fleet with more than 230 vessels.
